Lee Danner & Bass Inc. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 25.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,040 shares of the information services provider's stock after selling 6,303 shares during the period. Lee Danner & Bass Inc.'s holdings in Alphabet were worth $3,415,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp grew its stake in shares of Alphabet by 0.3% in the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider's stock worth $36,910,838,000 after acquiring an additional 743,369 shares during the last quarter. Geode Capital Management LLC boosted its stake in Alphabet by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider's stock worth $22,154,651,000 after purchasing an additional 2,626,431 shares in the last quarter. JPMorgan Chase & Co. grew its position in Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider's stock valued at $10,559,240,000 after purchasing an additional 4,567,275 shares during the last quarter. Fisher Asset Management LLC increased its stake in Alphabet by 1.5% during the 4th quarter. Fisher Asset Management LLC now owns 50,615,038 shares of the information services provider's stock valued at $9,581,427,000 after purchasing an additional 757,138 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Alphabet by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 38,451,718 shares of the information services provider's stock worth $7,278,910,000 after buying an additional 1,218,639 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
GOOGL has been the topic of a number of recent analyst reports. Wedbush increased their price target on shares of Alphabet from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Monday, January 6th. Morgan Stanley reduced their target price on Alphabet from $215.00 to $210.00 and set an "overweight" rating for the company in a report on Wednesday, February 5th. Citigroup lowered their price target on Alphabet from $232.00 to $229.00 and set a "buy" rating on the stock in a report on Wednesday, February 5th. UBS Group set a $190.00 target price on Alphabet in a research report on Thursday, March 27th. Finally, Citizens Jmp downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 2nd. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $209.13.
Check Out Our Latest Stock Analysis on GOOGL
Insiders Place Their Bets
In related news, CAO Amie Thuener O'toole sold 673 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. This trade represents a 4.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 29,066 shares of Alphabet stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the completion of the transaction, the director now owns 272,466 shares of the company's stock, valued at approximately $50,376,238.74. This represents a 9.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 87,297 shares of company stock valued at $15,936,270 in the last quarter. 11.55% of the stock is currently owned by insiders.
Alphabet Price Performance
Shares of GOOGL stock traded down $5.12 during mid-day trading on Friday, hitting $145.60. The company had a trading volume of 62,123,086 shares, compared to its average volume of 27,580,556. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock's 50 day moving average price is $175.15 and its 200-day moving average price is $176.68. Alphabet Inc. has a 52-week low of $144.48 and a 52-week high of $207.05. The company has a market capitalization of $1.77 trillion, a P/E ratio of 18.09, a P/E/G ratio of 1.34 and a beta of 1.03.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.55%. The ex-dividend date was Monday, March 10th. Alphabet's dividend payout ratio is presently 9.94%.
About Alphabet
(
Free Report)
Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
Featured Articles
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
